The Democratic $1.9 trillion spending bill would dedicate tens of billions in temporary subsidies for Obamacare plans, a measure meant to address a long-running complaint about the program: that coverage is unaffordable for many in the middle class.
The provisions could benefit families earning more than six figures, a reflection of the burdensome underlying costs of the plans.
Currently, only those earning between 100%-400% of the federal poverty level are eligible for premium tax credits to help pay for policies on the Obamacare exchanges. The COVID-19 relief bill will not only expand tax credits for those earners but will also expand them to anyone making above 400% for the first time. Both were planks in the Biden campaign's healthcare reform plan.
The expansion of the tax credits will cost about $36 billion, according to the Congressional Budget Office.
Democrats push $36B subsidy for Obamacare in monster spending bill
- by: David Hogberg
- 2021-03-04
- Source:
Washington Examiner
- 03/04/2021
